Sumitomo Mitsui Trust Group Inc. Trims Stock Holdings in Evergy Inc. $EVRG

Key Points

• Sumitomo Mitsui Trust Group trimmed its Evergy stake by 3.4%, selling 19,429 shares and leaving it with 555,752 shares worth about $40.29 million (roughly 0.24% of the company) per its latest 13F filing.
• Evergy declared a quarterly dividend of $0.695 (annualized $2.78), implying a 3.4% yield and a dividend payout ratio of 75.75%.
• Analysts' consensus is a "Moderate Buy" with an average price target of $88.90; the stock has a market cap of $18.88 billion and a P/E of 22.34.

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Evergy Inc. (NASDAQ:EVRG - Free Report) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 555,752 shares of the company's stock after selling 19,429 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Evergy worth $40,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in EVRG. Harbor Capital Advisors Inc. purchased a new position in Evergy during the fourth quarter worth about $27,000. Accredited Wealth Management LLC lifted its position in Evergy by 1,310.3% during the third quarter. Accredited Wealth Management LLC now owns 409 shares of the company's stock worth $31,000 after buying an additional 380 shares during the period. Sentry Investment Management LLC purchased a new position in Evergy during the third quarter worth about $41,000. TOWER TRUST & INVESTMENT Co purchased a new position in Evergy during the fourth quarter worth about $42,000. Finally, Root Financial Partners LLC purchased a new position in Evergy during the third quarter worth about $44,000. 87.24% of the stock is currently owned by hedge funds and other institutional investors.

Evergy Stock Performance

Evergy stock opened at $82.00 on Friday. The stock's 50-day moving average is $81.75 and its 200-day moving average is $77.79. The company has a market cap of $18.88 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.61. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.49 and a quick ratio of 0.27. Evergy Inc. has a 12 month low of $63.29 and a 12 month high of $85.27.

Evergy (NASDAQ:EVRG - Get Free Report) last released its quarterly earnings data on Saturday, January 31st. The company reported $0.42 EPS for the quarter. Evergy had a return on equity of 8.79% and a net margin of 14.35%. Equities analysts anticipate that Evergy Inc. will post 3.83 earnings per share for the current year.

Evergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th were issued a $0.695 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, March 10th. Evergy's dividend payout ratio (DPR) is 75.75%.

Insider Transactions at Evergy

In other news, SVP Charles L. King sold 2,440 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $82.19, for a total value of $200,543.60. Following the transaction, the senior vice president directly owned 18,359 shares in the company, valued at $1,508,926.21. This trade represents a 11.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ann D. Murtlow sold 2,847 shares of the firm's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $82.34, for a total value of $234,421.98. Following the completion of the transaction, the director owned 2,311 shares in the company, valued at approximately $190,287.74. This trade represents a 55.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 8,937 shares of company stock worth $736,492 in the last three months. 1.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EVRG shares. Mizuho set a $82.00 target price on Evergy in a research report on Monday, February 23rd. Bank of America reduced their target price on Evergy from $89.00 to $88.00 and set a "buy" rating on the stock in a research report on Tuesday. Wells Fargo & Company increased their target price on Evergy from $79.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Friday, February 20th. BMO Capital Markets upped their price target on Evergy from $82.00 to $87.00 and gave the stock an "outperform" rating in a research note on Monday, February 23rd. Finally, BTIG Research began coverage on Evergy in a report on Thursday, April 9th. They issued a "buy" rating and a $99.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $88.90.

Evergy Company Profile

Evergy, Inc is a regulated electric utility that generates, transmits and distributes electricity to residential, commercial and industrial customers primarily across Kansas and western Missouri. The company provides core utility services including retail electric delivery, grid operations, customer service and outage restoration, operating under state regulatory frameworks. Evergy serves a mix of urban and rural communities, including portions of the Kansas City metropolitan area and other population centers in its service territory.

The company's business activities span power generation, system planning, transmission and distribution infrastructure, and customer-facing programs such as energy efficiency and demand-side management.

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